S&P: Bank of East Asia notes A-

Standard & Poor's said it assigned its A- issue rating and cnAA Greater China credit scale rating to the issue of subordinated notes by Bank of East Asia Ltd.

According to S&P, the notes are a drawdown from the bank's existing $3 billion medium-term notes program. The notes are an unsecured and subordinated obligation of the bank and will rank pari passu with all other unsecured and subordinated obligations of the bank.

Additionally, according to S&P, the notes will be consolidated to form a single series with the bank's S$600 million 4.25% subordinated notes issued March 13.

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